Robert W. Baird Cuts Tandem Diabetes Care (NASDAQ:TNDM) Price Target to $33.00

Tandem Diabetes Care (NASDAQ:TNDM) had its price target decreased by Robert W. Baird from $37.00 to $33.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 1.76% from the stock’s current price.

Several other brokerages also recently weighed in on TNDM. Citigroup dropped their target price on Tandem Diabetes Care from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Sanford C. Bernstein began coverage on Tandem Diabetes Care in a research note on Wednesday, November 6th. They set an “outperform” rating and a $42.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Tandem Diabetes Care in a research report on Wednesday. Barclays lifted their target price on shares of Tandem Diabetes Care from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded shares of Tandem Diabetes Care from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Tandem Diabetes Care Price Performance

NASDAQ TNDM opened at $33.59 on Thursday. The firm’s fifty day simple moving average is $35.44 and its two-hundred day simple moving average is $36.64. The firm has a market capitalization of $2.21 billion, a P/E ratio of -17.40 and a beta of 1.32. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 1.29. Tandem Diabetes Care has a 12-month low of $25.78 and a 12-month high of $53.69.

Institutional Trading of Tandem Diabetes Care

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its stake in shares of Tandem Diabetes Care by 1.9% in the fourth quarter. Arizona State Retirement System now owns 18,961 shares of the medical device company’s stock worth $683,000 after acquiring an additional 362 shares during the period. Bank of Montreal Can boosted its holdings in Tandem Diabetes Care by 4.3% during the fourth quarter. Bank of Montreal Can now owns 10,004 shares of the medical device company’s stock worth $360,000 after buying an additional 409 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Tandem Diabetes Care by 8.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,870 shares of the medical device company’s stock worth $247,000 after buying an additional 525 shares in the last quarter. Assetmark Inc. boosted its holdings in Tandem Diabetes Care by 77.5% during the fourth quarter. Assetmark Inc. now owns 1,225 shares of the medical device company’s stock worth $44,000 after buying an additional 535 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Tandem Diabetes Care by 138.7% during the fourth quarter. AlphaQuest LLC now owns 931 shares of the medical device company’s stock worth $34,000 after buying an additional 541 shares in the last quarter.

About Tandem Diabetes Care

Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes technology solutions for people living with diabetes in the United States and internationally. The company's flagship product is the t:slim X2 insulin delivery system, a pump platform for managing insulin delivery and display continuous glucose monitoring sensor information directly on the pump home screen; and Tandem Mobi insulin pump, an automated insulin delivery system.